Dictionary of Law
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cartel :: legal definition


Cartel - n. 1) an arrangement among supposedly independent corporations or national monopolies in the same industrial or resource development field organized to control distribution, set prices, reduce competition, and sometimes share technical expertise. Often the participants are multinational corporations which operate across numerous borders and have little or no loyalty to any home country, and great loyalty to profits. The most prominent cartel is OPEC (Organization of Petroleum Exporting Countries), which represents all of the oil producing countries in the Middle East, North Africa and Venezuela. Many cartels operate behind a veil of secrecy, particularly since under American antitrust laws (the Sherman and Clayton Acts) they are illegal. 2) a criminal syndicate like the international drug cartel headquartered in Colombia.

See also: antitrust laws and Related Law Terms ↓


Related Law Terms

alter ego :: n. a corporation, organization or other entity set ... See also: pierce the corporate veil
answer :: n. in law, a written pleading filed by a defendant ... emurrer general denial verification
antitrust laws :: n. acts adopted by Congress to outlaw or restrict ... so: price fixing restraint of trade
Attorney General :: n. in each state and the federal government the hi ... izenry. See also: Solicitor General
bankruptcy :: n. a federal system of statutes and courts which p ... y proceedings trustee in bankruptcy
bar examination :: n. the examination given in each state by either t ... n that district. See also: attorney
blue sky laws :: n. laws intended to protect the public from purcha ... e sky." See also: corporation stock
case system :: n. the method of studying law generally used in Am ... Langdell and soon became standard.
close corporation :: n. a corporation which is permitted by state law t ... mily members. See also: corporation
common law :: n. the traditional unwritten law of England, based ... plied without reference to statute.
consumer protection laws :: n. almost all states and the federal government ha ... rranty product liability securities
corporate opportunity :: n. a business opportunity which becomes known to a ... ative action fiduciary relationship
corporation :: n. an organization formed with state governmental ... ation public corporation securities
entrapment :: n. in criminal law, the act of law enforcement off ... e drugs if not pressed by the narc?
equal protection of the law :: n. the right of all persons to have the same acces ... laws." See also: due process of law
franchise :: 1) n. a right granted by the government to a perso ... on property, income or profits tax.
general partner :: n. 1) usually one of the owners and operators of a ... ted partnership partner partnership
habeas corpus :: (hay-bee-us core-puss) n. Latin for "you have the ... nality of a state court conviction.
incorporate :: v. 1) to obtain an official charter or articles of ... te by reference incorporation stock
international law :: n. treaties between countries; multi-lateral agree ... all nations. See also: World Court
issue :: 1) n. a person's children or other lineal descenda ... the body incorporation share stock
judge :: 1) n. an official with the authority and responsib ... ice justice of the peace magistrate
law :: n. 1) any system of regulations to govern the cond ... um maritime law natural law statute
law book :: n. any of numerous volumes dealing with law, inclu ... : common law law Shepardize statute
limited partnership :: n. a special type of partnership which is very com ... mited liability partner partnership
mandamus :: (man-dame-us) n. Latin for "we order," a writ (mor ... mandamus. See also: writ of mandate
martial law :: n. a system of complete control by a country's mil ... n and women. See also: military law
maxims :: n. a collection of legal truisms which are used as ... e and the ordinary habits of life."
merger :: n. 1) in corporate law, the joining together of tw ... and taking one, and wife the other.
no fault insurance :: n: a type of automobile insurance required of car ... ling lawsuits. See also: negligence
non-profit corporation :: n. an organization incorporated under state laws a ... harity corporation cy pres doctrine
offshore corporation :: n. a corporation chartered under the laws of a cou ... nds in accounts out of the country.
prospectus :: n. a detailed statement by a corporation required ... rporation limited partnership stock
regulations :: n. rules and administrative codes issued by govern ... es usually have similar procedures.
restraint of trade :: n. in antitrust law, any activity (including agree ... also: antitrust laws monopoly trust
sanction :: n. 1) a financial penalty imposed by a judge on a ... ction." See also: contempt of court
search warrant :: n. a written order by a judge which permits a law ... ble cause search search and seizure
sheriff :: n. the top law enforcement officer for a county, u ... ." See also: bailiff sheriff's sale
treason :: n. the crime of betraying one's country, defined i ... nment. See also: espionage sedition
ultra vires :: (uhl-trah veye-rehz) adj. Latin for "beyond powers ... it is issued. See also: corporation

Popular Law Searches

legal definition ministerial act :: n. an act, particularly of a governmental employee ... exercising any individual judgment.
chancery legal definition :: n. a court that can order acts performed. Today ch ... ts in most states. See also: equity
testamentary disposition legal definition :: n. how the terms of a will divide the testator's ( ... named beneficiaries. See also: will
contract of sufferance :: n. a "hold-over" tenancy after a lease has expired ... y tenancy at will unlawful detainer
forthwith legal definition :: adv. a term found in contracts, court orders and s ... mediacy, with no excuses for delay.
forthwith definition legal :: adv. a term found in contracts, court orders and s ... mediacy, with no excuses for delay.
what is to wit in a legal contract :: prep. that is to say. Example: "the passengers in ... tty Bumgartner and Sherry Younger."
mirror wills legal definition :: n. the wills of a husband and wife which are ident ... d each names the other as executor.
clean hands doctrine latin :: n. a rule of law that a person coming to court wit ... ices. See also: affirmative defense
sine qua non only relates to contract law :: (see-nay kwah nahn) prep. Latin for "without which ... qua non of the injury to Playmate.

Other Law Terms - C

C.I.F. :: n. the total of cost, insurance and freight charge ... aid on goods purchased and shipped.
calendar :: 1) n. the list of cases to be called for trial bef ... clerk of the court calendars cases.
calendar call :: n. the hearing at which a case is set for trial. ... g at which a case is set for trial.
call :: n. the demand by a corporation that a stockholder ... assessment on shares already owned.
calumny :: n. the intentional and generally vicious false acc ... 's reputation. See also: defamation
cancel :: v. to cross out, annul, destroy, void and/or resci ... g, so that it cannot be used again.
cancellation :: cancel ... cancel
caning :: n. a punishment for crimes employed in certain Asi ... last century in the United States.
canon law :: n. laws and regulations over ecclesiastical (churc ... nduct with no religious connection.
cap :: n. slang for maximum, as the most interest that ca ... "adjustable rate" promissory note.
capital :: 1) n. from Latin for caput, meaning "head," the ba ... count capital assets stock in trade
capital account :: n. the record which lists all basic assets of a bu ... or the alleged value of good will.
capital assets :: n. equipment, property, and funds owned by a busin ... . See also: capital capital account
capital expenditure :: n. payment by a business for basic assets such as ... y intended to improve productivity.
capital gains :: n. the difference between the sales price and the ... so: basis delayed exchange exchange
capital investment :: capital expenditure ... capital expenditure
capital offense :: n. any criminal charge which is punishable by the ... . See also: bail capital punishment
capital punishment :: n. execution (death) for a capital offense. The U. ... or death. See also: capital offense
capital stock :: n. the original amount paid by investors into a co ... price. See also: corporation stock
capitalization :: n. 1) the act of counting anticipated earnings and ... for conversion into capital assets.